Delaware’s employment growth remained well above the rate of its neighbors in the Federal Reserve Bank of Philadelphia, although weaknesses were seen in income growth and gains in housing prices.
The bank’s monthly Tri-State Tracking index showed Delaware with a 2 percent job growth rate for August, compared to 1.3 percent for New Jersey and 1 percent in Pennsylvania.
Weak spots in the job arena came in government employment and manufacturing, both down slightly from a year ago. The biggest gain came in the professional sector, up 5,800 jobs from a year ago.
Delaware did remain above the national average in building permit activity.
Delaware did lag the nation as a whole in home price gains and personal income, two key measures of economic health
The Philadelphia Fed’s district includes a large part of the state of Pennsylvania, Delaware and a portion of New Jersey.
Both New Jersey and Pennsylvania have been struggling with state budget issues, with New Jersey lawmakers agreeing to a 23-cent-a-gallon gas tax increase to pay for stalled road and rail projects.
Pennsylvania has also struggled with budget issues and low energy prices that have led to a slowdown in natural gas production and mining.
